Mobileye Global (NASDAQ:MBLY) Downgraded by Wolfe Research

Wolfe Research downgraded shares of Mobileye Global (NASDAQ:MBLY) from an outperform rating to a peer perform rating in a research report report published on Thursday, Marketbeat.com reports.

A number of other analysts also recently commented on the stock. UBS Group dropped their price target on shares of Mobileye Global from $22.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Fox Advisors downgraded shares of Mobileye Global from an overweight rating to an equal weight rating in a research report on Thursday, August 1st. Evercore ISI restated an outperform rating and set a $35.00 price target on shares of Mobileye Global in a research report on Monday, August 26th. Royal Bank of Canada dropped their price target on shares of Mobileye Global from $34.00 to $24.00 and set an outperform rating on the stock in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Mobileye Global from $32.00 to $24.00 and set a buy rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mobileye Global currently has a consensus rating of Moderate Buy and an average target price of $31.60.

Mobileye Global Stock Down 8.5 %

Mobileye Global stock opened at $11.55 on Thursday. The firm has a 50-day moving average price of $19.38 and a two-hundred day moving average price of $25.40. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of -55.00 and a beta of 0.08. Mobileye Global has a 52-week low of $11.45 and a 52-week high of $44.48.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $424.34 million. During the same period in the previous year, the firm earned $0.11 EPS. Mobileye Global’s revenue was down 3.3% on a year-over-year basis. Research analysts expect that Mobileye Global will post -0.07 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, CEO Amnon Shashua acquired 631,963 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the transaction, the chief executive officer now owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the completion of the transaction, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amnon Shashua acquired 631,963 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Mobileye Global

Large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc grew its position in Mobileye Global by 59.2% in the fourth quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock worth $6,068,000 after acquiring an additional 52,088 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Mobileye Global in the first quarter worth approximately $1,294,000. Pinebridge Investments L.P. grew its position in Mobileye Global by 70.4% in the fourth quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after acquiring an additional 100,494 shares in the last quarter. Wells Fargo & Company MN grew its position in Mobileye Global by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock worth $11,430,000 after acquiring an additional 34,763 shares in the last quarter. Finally, Assetmark Inc. grew its position in Mobileye Global by 2.2% in the fourth quarter. Assetmark Inc. now owns 108,331 shares of the company’s stock worth $4,693,000 after acquiring an additional 2,346 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.